Rachel Reeves has been accused of lying to the country to justify her tax raid after it emerged she never faced a £30billion “black hole” at all.
The Chancellor spent weeks warning Britain she had “tough decisions” to make, claiming a shock productivity downgrade had blown a huge gap in the nation’s finances.
She ramped up the fear factor at a Downing Street press conference on November 4, hinting she would be forced to hike income tax and insisting working people would “all have to do our bit.”
But the OBR has blown the story apart, revealing it told Ms Reeves back on September 17 that the downgrade had been fully offset by soaring tax revenues from higher wages and inflation.
By October 31, the watchdog told her she actually had a £4.2billion surplus, meaning her own fiscal rules were already met without raising a single tax.
Tory leader Kemi Badenoch said it was “yet more evidence” the Chancellor “must be sacked”.
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